AAC Clyde Space AB

AAC Clyde Space AB has increased its overdraft bank facility from SEK 30 million to SEK 50 million to improve its financial flexibility and manage working capital during growth. The facility, secured by chattel mortgages and shares in Spacemetric AB, carries an interest rate of VECU plus 3.48% and is renewable annually on December 31st. This announcement complies with EU market regulations and was released on May 27, 2025. AAC Clyde Space specializes in small satellite technologies and services, with operations in Sweden, the UK, Netherlands, South Africa, and the USA. Its shares are listed on Nasdaq First North Premier Growth Market and the US OTCQX Market.

On May 22, 2025, AAC Clyde Space AB held its Annual General Meeting, during which Major General Lars-Olof Corneliusson was elected to the Board of Directors. Corneliusson has a four-decade career in the Swedish Armed Forces, with roles such as Director of Intelligence at the EU Military Staff in Brussels and Military Advisor to the Swedish Ministry for Foreign Affairs. His experience includes international cooperation with NATO and the UN, focusing on intelligence, defense policy, and strategic leadership. This election aims to strengthen the company's capabilities in intelligence and security, aligning with the growing importance of space-based intelligence for civil protection and national defense. AAC Clyde Space specializes in small satellite technologies and services, providing data for various applications, including weather monitoring and defense. The company operates in multiple countries and is publicly traded on Stockholm's Nasdaq First North Premier Growth Market and the US OTCQX Market.

At the annual general meeting of AAC Clyde Space AB on May 22, 2025, several resolutions were adopted. The income statements and balance sheets for 2024 were approved, and it was decided not to distribute dividends for that year. The board members and managing director were discharged of liability for 2024. The board will consist of six members, with Rolf Hallencreutz re-elected as chairman and Lars-Olof Corneliusson elected as a new member. Öhrlings PricewaterhouseCoopers AB was re-elected as the auditor. The board was authorized to increase share capital by up to 20% until the next meeting. Three incentive programs were approved, issuing 117,700 warrants for employees and board members, exercisable from July 2028 to December 2028. Changes to the nomination committee's appointment principles were also approved, allowing compensation for the independent chair. AAC Clyde Space specializes in small satellite technologies and services, with operations in several countries and shares traded on Nasdaq First North Premier Growth Market and the US OTCQX Market.

AAC Clyde Space AB will release its 2025 Q1 financial report on Thursday, May 15, 2025, at 8:30 CEST. A live webcast for investors and analysts will follow at 11:00 CEST, featuring a presentation by CEO Luis Gomes, who will also address questions. The webcast can be watched live or viewed later at the same link. Questions can be sent in advance or submitted during the webcast. AAC Clyde Space, headquartered in Uppsala, Sweden, specializes in small satellite technologies and services, offering solutions for various sectors like weather monitoring and agriculture. The company's shares are listed on Nasdaq First North Premier Growth Market in Stockholm and the US OTCQX Market. For further information, contact Håkan Tribell, Head of Communications for Investor Relations and Public Affairs.

AAC Clyde Space AB has secured a EUR 570,000 order for Power Conditioning and Distribution Unit (PCDU) systems from a European satellite manufacturer, with delivery set for March 2026. The company's CEO, Luis Gomes, highlighted the continued trust in their Starbuck MINI technology for satellite missions. Starbuck MINI is a PCDU that ensures stable power distribution for satellites and is used in various space missions, including those by ESA and Astroscale. AAC Clyde Space, based in Uppsala, Sweden, provides satellite technologies and services, with operations in the UK, Netherlands, South Africa, and the USA. The company is publicly traded on Nasdaq First North Premier Growth Market in Stockholm and the US OTCQX Market.

AAC Clyde Space AB announced that Peter Anderson, the Chief Commercial Officer, will leave his position on June 30, 2025. The company is currently planning the transition and assessing the future of the role. Peter Anderson, who joined the company in 2015, has been instrumental in its commercial growth. CEO Luis Gomes expressed gratitude for Anderson's contributions and wished him well. Anderson will remain in his role until the end of June to facilitate a smooth transition. AAC Clyde Space specializes in small satellite technologies and services, with operations in several countries and its headquarters in Sweden. The company's shares are traded on Nasdaq First North Premier Growth Market and the US OTCQX Market.

AAC Clyde Space AB is restructuring its operations to enhance efficiency and profitability by transitioning to a two-segment structure: Products & Missions and Data & Services. The previously separate segments, Products and Missions, are being combined to create synergies in hardware development and better align global teams. This change aims to improve coordination, cost control, and customer offerings. The new structure will be implemented in late April 2025, with Richard McKay leading the Products & Missions segment. Frédéric Menard will focus on managing AAC Hyperion in Delft. CEO Luis Gomes states that this change builds on the company's successful 2024 performance, aiming for a more agile and cost-efficient organization. AAC Clyde Space, which provides small satellite technologies and services, is headquartered in Sweden and operates in multiple countries. Its shares are traded on Nasdaq First North Premier Growth Market and the US OTCQX Market.

The Nomination Committee of AAC Clyde Space has proposed Major General Lars-Olof Corneliusson as a new member of the Board of Directors, with the election to take place at the Annual General Meeting on May 22, 2025. Corneliusson, who has over 40 years of experience in defense and international assignments, is expected to enhance the company's strategic focus on security-related space applications. The proposal is in response to increasing geopolitical tensions and the growing importance of secure space-based data for defense and government sectors. Corneliusson's background includes roles such as Director of Intelligence at the EU Military Staff and Military Advisor to the Swedish Ministry of Foreign Affairs. He has also collaborated with Spacemetric, a company acquired by AAC Clyde Space. The Chairman of the Board, Rolf Hallencreutz, emphasized the importance of Corneliusson's expertise in advancing the company's investments in space-based security and intelligence solutions. AAC Clyde Space specializes in small satellite technologies and services, providing data for various applications including security and defense. The company is headquartered in Sweden with operations in the UK, Netherlands, South Africa, and the USA, and its shares are traded on Nasdaq First North Premier Growth Market in Stockholm and the US OTCQX Market.

AAC Clyde Space AB (publ) has announced its annual general meeting scheduled for May 22, 2025, at the Clarion Hotel Gillet in Uppsala, Sweden. Shareholders wishing to attend must be registered by May 14, 2025, and notify the company by May 16, 2025. The meeting will cover various agenda items including the election of the chairman, presentation of financial reports, and resolutions on profit allocation, board member elections, and incentive programs. The nomination committee has proposed re-election and new election of board members and outlined fees for directors and auditors. The board also proposes resolutions on increasing share capital and issuing warrants as part of long-term incentive programs for employees and directors. The company emphasizes the importance of these programs in aligning the interests of participants with the company's growth objectives. The official notice of the meeting is available in Swedish on the company's website. AAC Clyde Space specializes in small satellite technologies and services, with operations across several countries and its shares listed on Nasdaq First North Premier Growth Market and the US OTCQX Market.

AAC Clyde Space's technology on the European Space Agency's (ESA) Arctic Weather Satellite (AWS) has been praised for its performance, marking a significant step towards the EPS-Sterna constellation. Launched in 2024, the satellite includes a microwave radiometer from AAC Omnisys and key systems developed by AAC Clyde Space in Uppsala. AWS aims to improve weather forecasting, especially in the Arctic, and has matched the performance of larger missions, validating AAC Clyde Space's technology. The AWS is foundational for the EPS-Sterna programme, a planned constellation by EUMETSAT to enhance weather observation. A decision on this programme is expected in late 2025, with initial satellites launching in 2029. AAC Clyde Space has received an order from OHB Sweden for the EPS-Sterna programme, valued at EUR 1.0 million, to ensure timely deployment. The EPS-Sterna mission will complement existing meteorological satellites and improve weather prediction models. AAC Clyde Space specializes in small satellite technologies, with operations in several countries and its shares traded on Nasdaq First North Premier Growth Market and the US OTCQX market.